Utz Brands, Inc. (NYSE:UTZ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Utz Brands, Inc. (NYSE:UTZ) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $20.00.

Several research firms recently commented on UTZ. TD Cowen cut their price target on Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Barclays cut their target price on Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Piper Sandler lowered their price target on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Mizuho dropped their price objective on shares of Utz Brands from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday.

Utz Brands Stock Down 0.4 %

UTZ stock opened at $13.70 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average of $14.93 and a two-hundred day moving average of $16.31. Utz Brands has a 12 month low of $12.71 and a 12 month high of $20.04. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -72.11, a PEG ratio of 0.87 and a beta of 1.01.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were given a dividend of $0.061 per share. The ex-dividend date was Monday, December 16th. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.78%. Utz Brands’s dividend payout ratio (DPR) is currently -126.32%.

Hedge Funds Weigh In On Utz Brands

Several large investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in Utz Brands by 9.5% in the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company’s stock valued at $31,256,000 after purchasing an additional 152,868 shares during the last quarter. Vestcor Inc raised its holdings in shares of Utz Brands by 11.4% in the 3rd quarter. Vestcor Inc now owns 296,100 shares of the company’s stock valued at $5,241,000 after buying an additional 30,400 shares during the period. Geode Capital Management LLC lifted its stake in Utz Brands by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock worth $27,409,000 after acquiring an additional 47,320 shares in the last quarter. Barclays PLC boosted its holdings in Utz Brands by 21.4% during the 3rd quarter. Barclays PLC now owns 555,477 shares of the company’s stock valued at $9,831,000 after acquiring an additional 97,767 shares during the period. Finally, Truist Financial Corp boosted its holdings in Utz Brands by 20.8% during the 2nd quarter. Truist Financial Corp now owns 24,209 shares of the company’s stock valued at $403,000 after acquiring an additional 4,176 shares during the period. 95.97% of the stock is currently owned by institutional investors and hedge funds.

About Utz Brands

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp’s, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.